FY 2016 Goal Update: December Progress

FY 2016 Goal Update December Progress _ AnythingYouWantBlog.com

New month (new year!) = new net worth goal update. This month was a big one for me in terms of asset growth thanks to a semi-unexpected cash influx. Here’s how things stacked up: 

Net worth goal December update _ AnythingYouWantBlog.com

Overall, my net worth is up 30% this month. Cash savings increased by 25%, bringing my cash holdings back to the level I’d like to maintain. My non-retirement investments increased by 5% due mostly to new investments that I made. Since I began tracking my net worth goal in July of 2015, my non-retirement investment account balance has increased by 97%, which I am extremely happy with. Of course, I’m still far shy of my goal to increase my non-retirement investments by 271% this year, but I’m making progress!

The big mover this month was my retirement accounts, which increased by 41% this month alone. The reason that this balance increased by so much this month is that I received the final payout of retirement assets tied to my previous job. This was money that I knew was coming to me but I wasn’t sure exactly how much it would be (it was tied to a pension so I never saw a balance before it was paid out) and I had no idea when it would finally be paid out (it took nearly three months!). I rolled all of this money over into a rollover IRA.

With this payout, my retirement investment balance is now greater than my goal for the year. Theoretically,  this would mean that I should have either paid out the taxes now and added this money to my non-retirement investment account, or should cease saving for retirement for the rest of this fiscal year. However, I think that either of these decisions would be poor choices from a larger financial health perspective, so I decided to do what was best in the long term even though it might negatively impact my goal progress this year.

How did December stack up for you? 


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8 thoughts on “FY 2016 Goal Update: December Progress

  1. Awesome job on your progress! I recently started tracking my net worth, and can’t wait to do something similar.

    December was an awesome month financially for me! I stayed within my holiday budget (a first for me), and even had a little extra left over. It’s such a great feeling to start the new year without a huge credit card bill!

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    • Thanks! Its been a lot of fun to track my net worth over time – I would highly recommend doing it for yourself!

      That is great that you stayed within your holiday budget. It’s such a hard thing to do!!

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  2. Wow, nice. December saw more savings than expected *and* I got my yearly bonus. So we were able to hit the goal we needed for Tim’s dental implants, which are happening this year. Alas, that means our beautiful savings account balance will be sucked away. But at least it’s not going into debt.

    Keep up the good work!

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    • That is always the saddest part of saving for me – when you finally spend the money on that thing you’ve been saving for and all your work seems to disappear. That’s great though that you were able to hit your goal!!

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  3. Exciting stuff! December stacked up as planned for us. It went well but we didn’t exceed anything too much. Our house has been sold and closes at the beginning of March so we are looking forward to a nice windfall then 🙂 We are moving from a very expensive Canadian city to a very affordable city so we will do quite nicely. We were lucky to buy in the expensive city when we did.

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    • That is awesome that you’re able to make a profit from your house and move to a lower cost of living area. I would love to do that – you can save so much but still live a very nice life without having to make too many sacrifices!

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